Common Contracts
1 similar Family Loan Agreement contracts
FAMILY LOAN AGREEMENT $_____________________(AMOUNT) _____/______/_______(DATE)Family Loan Agreement • April 15th, 2019
FOR VALUE RECEIVED, the undersigned, (the “Maker”), hereby promises to pay to the order of ____________________ (LENDER NAME) (“Payee”), the principal sum of $ ____________ pursuant to the terms and conditions set forth herein. PAYMENT OF PRINCIPAL. The principal amount of this Promissory Note (the “Note”) and any accrued but unpaid interest shall be due and payable in ____________ (NUMBER OF PAYMENTS) (CIRCLE ONE: equal monthly installments / equal quarterly installments / payments as described below) beginning ___________________ (DATE OF FIRST PAYMENT). All payments under this Note shall be applied first to accrued but unpaid interest, and next to outstanding principal. If not sooner paid, the entire remaining indebtedness (including accrued interest) shall be due and payable on _________________ (DATE OF FINAL PAYMENT). INTEREST. This Note shall bear interest, compounded annually, at _________ (ANNUAL INTEREST RATE) percent. PREPAYMENT. The Maker shall have the right at any time an
